Gary Bettman says NHL could take hit from Canada-U.S. tariff battle
'There's a policy issue that's going on, and it's unfortunate that the two countries, the people of the two countries, and our sport are caught in the middle of it.'
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Tariffs by U.S. President Donald Trump could take a toll on the National Hockey League.
NHL commissioner Gary Bettman, speaking on Wednesday morning on the Squawk Box on CNBC in New York, stated that tariffs could affect the league because seven Canadian teams are paid in United States dollars.
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Host Becky Quick told Bettman the NHL has “unwittingly played the public face of the bad blood that’s growing between these two nations” with fans booing the American anthem in Canada.
Both Prime Minister Justin Trudeau and Trump have weighed in on what’s taking place at hockey games.
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“Welcome to my life. It’s really unfortunate that these two great countries, great allies for hundreds of years, share a long border together,” Bettman said. “Most of the tension isn’t addressed at either country or at the people because I’ve spent a lot of time in the last 30 years in Canada, and Canadians love the United States and love Americans.
“But there’s a policy issue that’s going on and it’s unfortunate that the two countries, the people of the two countries, and our sport are caught in the middle of it.”
Bettman told the network he’s eyeing the situation closely because 25 per cent of the more than $7 billion U.S. in revenue he estimated the league would reach this year comes from Canada.
The Edmonton Oilers, Toronto Maple Leafs and Montreal Canadiens are among the top 10 revenue-collecting teams in the league, but if the Canadian dollar continues to drop, then that will hit the NHL’s bottom line.
“The issue in that regard is all players, no matter what country they play in, get paid in U.S. dollars,” Bettman said. “So if the impact of the tariffs is to see the Canadian dollar drop relative to U.S. dollars, it will make it more difficult and more painful.
“We have revenue sharing, but a lot of our Canadian clubs do quite well, but that’s going to be impacted by what happens with the Canadian dollar. We’re hoping that this is a moment in time and both countries find a way to work through this.”
Bettman said he hasn’t had any discussions with the administration of the United States in Washington, D.C., regarding the subject and is hopeful that this situation will pass.
“In terms of understanding it, from our standpoint, we’re not privy to all the discussions that are going on at the highest levels of both countries, so we get to be affected observers,” Bettman said.
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